CPPIB said the Canadian portfolio included diversified farmland producing wheat, barley and canola crops.

The LP launched its agriculture investment program in 2012, initially focusing on farmland opportunities in Canada, the US, Australia, New Zealand and Brazil.

CPPIB senior vice president André Bourbonnais said, “We see this as an attractive opportunity for CPPIB to invest in an established platform of high-quality farmland in a strategically significant agricultural region of Canada.

“We look forward to working with management to grow the portfolio and contribute to the development of the farming sector in Saskatchewan.”

He added, “Farmland is an attractive asset class that has historically delivered stable, risk-adjusted returns and the global outlook for agriculture in general is positive due to increasing demand for agricultural products.”

Corbidge will work from the CPPIB London office until next year, when he is expected to move to the pension plan’s headquarters in Canada, Dow Jones said, citing two people familiar with the situation.